One of the most common enquiries we get are from potential customers is how they go about getting a Mortgage with Defaults.
There can be a number of reasons for the defaults, the most common tend to be that the person struggled to pay their bills during a difficult time, that could be things like Ill health, redundancy etc.
The other common reason for the defaults is “youth”. So by that it is normally people who turned 18, were offered credit everywhere, took it out and realised they could not pay.
Although over the years, we have come across many different reasons.
How we can help
Getting a Mortgage with defaults is something we do on a near daily basis. Normally within the space of a 5 minute phone call we can gather enough information to give you an idea of whether we can help you to overcome the defaults and obtain a Mortgage and what the rates are likely to be. If we are not confident of being able to get you a Mortgage, we would tell you what needs to change to get you the Mortgage you want.
Over the last 3 years or so, getting a Mortgage with defaults has become a lot easier and the rates have come down considerably. We are beginning to see a lot more applications going to high street Mortgage lenders where as in the past they have had to go to specialist lenders. Although even the specialist Mortgage lenders have reduced their rates a lot in the last 6-12 months to the point that they are not expensive by any means – their rates tend to begin at around 3%.
What to do next?
Give us a call! It is the quickest way to get the answers to your questions. You can also fill out our contact form and we will come back to you.